Net growth in new companies soars in Chester

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Net growth in new companies saw a substantial rise during the first half of 2012, according to figures in the recently-released Duport Business Confidence Report for the area.

Chester church

Chester is a city with a lot to offer new businesses, so it’s no surprise that record numbers of start-ups are flocking there.

There was an explosion in net growth of new companies in Chester during the first half of 2012. The company register increased by 305 companies during the first six months of the year, representing a 323% rise when compared with the net growth of 72 companies during the same period last year.

The Duport Business Confidence Report contains further positive news for Chester with both May and June seeing record numbers of new company formations, when compared to the same months in all previous years on record.

The increase in new companies in Chester could be due to the “Chester Renaissance” project that began in 2007. The aim of the scheme is to make Chester into a “must-see European destination”. Upcoming developments include a vibrant new business district and a £4.5 million theatre and cultural venue. The venue will contain an 800-seat theatre, a fully integrated central library, a 200-seat studio theatre, two studio cinemas, as well as several cafes and bars.

Peter Valaitis, Managing Director of said:

“Chester is a city with a lot to offer new businesses, so it’s no surprise that record numbers of start-ups are flocking there. It has a very busy services sector and high footfall from tourism, especially during the summer months.

“The ‘Chester Renaissance’ project is making the city even more attractive to new companies, and they will doubtless benefit from the new facilities that are being provided.”

Chester is undoubtedly a popular place to set up a business, and the new companies that are setting up there will, in turn, bring more prosperity to the area as the grow and develop.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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Tom Valaitis